GOLDEN HARVEST Corp

CIK:0001382085|SEC Filings

DISABILITY ACCESS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2011 AND 2010 (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Sales	$ 366,800	$ 388,749	$ 854,142	$ 1,292,140
Cost of sales	151,063	180,026	400,010	517,800
Gross profit	215,737	208,723	454,132	774,340
Operating costs and expenses
Selling expense	28,849	25,168	81,225	80,048
General and administrative	210,446	191,117	559,703	578,232
Total operating costs and expenses	239,295	216,285	640,928	658,280
Income (loss) from operations before other expense	(23,558)	(7,562)	(186,796)	116,060
Interest expense, net	(11,866)	(13,505)	(35,972)	(47,684)
Loss on extinguishment of debt	0	0	0	(34,046)
Net income (loss)	$ (35,424)	$ (21,067)	$ (222,768)	$ 34,330
Income (loss) per common share, basic	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Income (loss) per common share, diluted	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average shares outstanding, basic	2,423,545,765	2,437,676,200	2,432,914,295	2,437,676,200
Weighted average shares outstanding, diluted	2,423,545,765	2,437,676,200	2,432,914,295	11,883,018,081

DISABILITY ACCESS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2011 AND 2010 (USD $)	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Cash flows from operating activities:
Net income (loss)	$ (222,768)	$ 34,330
Adjustments to reconcile net (loss) income to net cash (used) provided by operating activities:
Depreciation and amortization	74,748	90,910
Loss on extinguishment of debt	0	34,046
Loss on disposition of property and equipment	0	361
Stock based compensation	826	222
Accrued interest on related party loans, net	0	38,646
Decrease (increase) in assets:
Accounts receivable	81,091	39,386
Other current assets	9,549	(21,456)
Deposits	0	0
Increase (decrease) in liabilities:
Accounts payable and accrued expenses	362	(3,897)
Deferred revenue	10,417	0
Income tax payable	(2,000)	0
Cash (used) provided by operating activities	(47,775)	212,548
Cash flows from investing activities:
Cash paid for fixed assets	(66,384)	(30,378)
Cash used by investing activities	(66,384)	(30,378)
Cash flows from financing activities:
Employee notes receivable	(40,000)	0
Advances from related party	11,500	3,150
Payments on notes and capital leases	0	(14,265)
Payments on related party notes	0	(65,010)
Cash used by financing activities	(28,500)	(76,125)
Net (decrease) increase in cash	(142,659)	106,045
Cash, beginning of period	343,969	148,829
Cash, end of period	201,310	254,874
Supplemental Schedule of Cash Flow Information:
Cash paid for interest	46,798	33,946
Cash paid for income taxes	2,000	0
Non-cash financial activities:
Accrued interest on related party notes added to principal	0	18,142
Current related party note payable reclassified as long term	0	461,582
Debentures payable assigned to third party	0	141,606
Issuance of preferred stock pursuant to divestiture agreement	$ 0	$ 10

DISABILITY ACCESS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2011	Dec. 31, 2010
Current assets
Cash	$ 201,310	$ 343,969
Accounts receivable, net of allowance of $1,448	143,437	224,528
Employee note receivable - current	15,000	0
Other current assets	16,907	26,456
Total current assets	376,654	594,953
Property and equipment, net of accumulated depreciation of $442,648 and $367,900, respectively	215,688	224,052
Goodwill	908,712	908,712
Employee note receivable - noncurrent	25,000	0
Deposits	4,385	4,385
TOTAL ASSETS	1,530,439	1,732,102
Current liabilities
Accounts payable - trade	146,912	120,922
Accrued expenses	226,051	251,679
Income tax payable	2,979	4,979
Deferred revenue	20,750	10,333
Payable to related party for common stock repurchase	15,000	0
Advances from related parties	14,650	3,150
Total current liabilities	426,342	391,063
Note payable, related party	603,189	603,189
Total liabilities	1,029,531	994,252
Stockholders' equity
Common stock, $.00001 par value; 2,445,000,000 shares authorized, 2,337,676,200 and 2,437,676,200 shares issued and outstanding, respectively	23,377	24,377
Additional paid-in capital	1,681,565	1,694,739
Accumulated deficit	(1,204,224)	(981,456)
Total stockholders' equity	500,908	737,850
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,530,439	1,732,102
Series A - Preferred Stock
Stockholders' equity
Preferred stock	100	100
Series B - Preferred Stock
Stockholders' equity
Preferred stock	10	10
Series C - Preferred Stock
Stockholders' equity
Preferred stock	$ 80	$ 80